How To Live Mortgage-Free Now & Grow Your Wealth Exponentially In The Next 30-90 Days!
  
You're invited to join us Tuesday Aug 15 at 7:00pm EST for our FREE Training as we uncover how to start living mortgage-free now while growing your wealth exponentially.... all within the next 30-90 days.
You’ll Learn:
🏠 How to live mortgage-free right now
💲 Exactly which methods & strategies our clients are using to build massive wealth and cashflow quickly to eliminate their own mortgage costs
🏖️ How many of our clients are spending more time travelling with family – mortgage freedom creates cashflow
🏘️ Ways to build a portfolio strategically and leave a legacy for your loved ones
💰 How to beat inflation and create financial security for you & your family, even during uncertain times
Register HERE for your Free Seat to attend. See you there!! 😊
Helping you win at wealth,
Penny Wrightly
First Home Savings Account (FHSA)
A first home savings account (FHSA) is a registered plan allowing you, as a prospective first-time home buyer, to save for your first home tax-free (up to certain limits). You are able to open an FHSA as of April 1, 2023, however, financial institutions are slowly rolling it out so most institutions are still building the infrastructure at this time.
To qualify to open a FHSA you must be at least 18 years old, be a resident of Canada and be a first-time home buyer.
Your FHSA participation room in the year that you open your first FHSA =$8,000
The lifetime FHSA limit =$40,000
For more details, please contact me at 705-734-6804 or email me at penny@hometowngroup.ca
Inflation Goes Down From 4.1% to 2.8%
The rise in consumer prices decelerated again in June, but costs for shelter and food are still putting a strain on Canadian's wallets, evidence that bringing inflation down to target remains a tricky balancing act for the Bank of Canada.
The consumer price index (CPI) was up 2.8% last month, Statistics Canada reported on July 18, falling a couple of ticks below the 3% increase economists surveyed by Bloomberg had expected. That was down from 3.4% in May and marked the first time the inflation rate has fallen within the Central Bank’s target control range of 1 to 3% since March 2021.
The decline was driven by a 21% drop in gasoline prices for the month, which was largely the result of base-year effects; last year, prices at the pump shot up amid increasing global demand for crude oil.
In June 2022, inflation hit its peak above 8% and has come down as the Central Bank hiked interest rates at almost every policy meeting since March of last year — taking a brief pause in March and April of this year.
“Inflation has fallen into the Bank of Canada’s target range, but there are signs pointing to slower progress from this point on,” Royce Mendes, economist and managing director at Desjardins Capital Markets, wrote to clients in a note on July 18th.
Discounting gasoline, the headline inflation figure would have been 4% in June, down from 4.4% in May. Statistics Canada said elevated grocery prices, up 9.1%, and mortgage interest costs, up 30.1%, contributed the most to the overall increase of 2.8%.
Full Article Here
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